Bitquence (BQX) Price Analysis 9/17/2017

Bitquence is a relatively new but very promising token that has come to the market less than two months ago. Their project is built on the Ethereum network and their ERC-20 token is traded under the ticker "BQX". Currently they are only being traded on three different exchanges and the majority of their trading is done on Ethereum markets.

Their project is aiming to create a sort of one stop shop for a universal crypto wallet and for investment packages. They are still developing their mobile application and platform. I truly think their idea is groundbreaking since we need to simplify cryptocurrencies in order for them to go mainstream.

Once they have a working product we can see how high their potential really is but so far they have some very interesting benefits:

• One click diversification into a variety of cryptocurrencies (investment basket)
• Free to send to any phone number, email or Bitquence ID
• Proof of stake consensus (is not mined like traditional coins)

Their whole goal is to make cryptocurrency easier to understand and use. Even people like myself who use cryptocurrency every day agree that we need to simplify the processes and make it more accessible to the average person because it is just too complicated.

(Source: https://www.coinigy.com/main/markets/HITB/BQX/ETH)

In the chart you can see that the price had a massive jump from around $0.04 to around $1.26 before settling in the 70 cent range. The price is forming a nice wedge pattern and is looking for a breakout over the next 3-5 days. The Stochastics indicate that we are slightly overbought and due for a drop. Bollinger bands show we are just now touching the bottom of that moving average so it will be a test to stay above that 0.003 ETH price. Volumes are showing an increased interest by traders and BQX tokens are even the highest volume coin traded on coinexchange.io. Depending on Bitcoin and Ethereum prices we should see a nice support zone above 60 cents and resistance in the 85 cent zone for the short term.

If they can get listed on a few more exchanges their price will continue to climb. I'm looking forward to using their network once it gets up and running since it would simplify my life dramatically!

(Source: https://www.bitquence.com/)

I created this price analysis for one of my fans @spee who asked me to do one on BQX. If you would like to see a price analysis and hear what I think about a particular project, coin, token etc let me know and I will create one :)

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)